Remarkably, one of the investors, who is impressed by the fiscal incentives thrown up by the reforms in the oil sector of Nigeria, is bringing in at least $20 billion in investment into the nation’s oil industry.
The Minister of State for Petroleum (oil), Dr Heineken Lokpobiri, who announced the development at a media chat with editors in Abuja on Tuesday, said Nigeria’s target is to push oil production to at least three million barrels per day and increase Nigeria’s oil revenue substantially.
Lokpobiri made it clear that Nigeria is desirous of ramping up its oil production to a point that it would become self-sufficient in oil production and a reference point for the Organisation of Oil Exporting Countries, OPEC.
The minister said, “We now have peace in the Niger Delta due to the goodwill demonstrated by Mr.
President by appointing an Ijaw man as petroleum minister in charge of oil.
“We are confident that we have made the right decisions that will ramp up oil production and ensure sustainable petroleum and production delivery to Nigerians.
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